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The Latest Breaking News from the Reserve Bank

Minimum wage hike reveals gender inequality

Female workers will be the most most affected by the upcoming minimum wage hike, as the FWC committed to focusing more on gender equality.

The New Daily

Why you'll pay more interest on your mortgage – maybe forever

Reserve Bank analyses whether interest rates will need to be pegged higher longterm, to keep inflation down. Jonathan Milne reports.

Newsroom.co.nz

Afternoon Update: RBA governor suggests more share houses; inflation rises; and vapour blasts from a Saturn moon

Underlying inflation and price pressures easing, shrinking the likelihood of another RBA rate hike on Tuesday

The Guardian - AU

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Why Australian households are divided when it comes to financial pressure, and economists are divided on the outlook

Economists are divided on how well households will weather the storm of rent rises, soaring home loan rates and rising prices, just as Australians are divided in how much financial pressure they're under.

ABC News

Tourism's faltering recovery relies on foreign workers to sell NZ

With winter closing in, there's not enough work in restaurants and bars for the workers hired to fill shortages in summer's tourism hotspots. Jonathan Milne reports.

Newsroom.co.nz

Backpacker bank accounts hit by anti-money laundering rules

Working holiday visa holders have to jump through hoops to get a bank account because of anti-money laundering provisions which even the Reserve Bank say aren't necessary.

Newsroom.co.nz

This is the biggest house sale loss – but worse is to come as interest rates rise

Today's Reserve Bank rates decision is heralded by economists as its most important since Covid. An anticipated OCR hike will put new pressure on mortgaged homeowners in election year. Jonathan Milne reports.

Newsroom.co.nz

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Will Jim Chalmers' budget drive up inflation? Not likely – and here's why

The proposition that cutting prices will stoke inflation is a hard one to get your head around, even if you are an economist.

The Conversation

‘Significant turnaround’ in Australian house prices defies predictions as demand rises

CoreLogic says if increase is maintained, prices will be 4% higher at the end of 2023, defying forecasts of falls of 10% or more

The Guardian - AU

The great Victorian budget mystery: who will repay its massive ‘Covid debt’?

For once the Andrews government has largely avoided major announcements ahead of Tuesday’s state budget

The Guardian - AU

Reserve Bank faces new inflation headwinds as immigration surges

This week's interest rates decision will be a tough one that may yet disappoint mortgaged homeowners and turn NZ back down the path to recession, writes Andrew Patterson.

Newsroom.co.nz

RBI to transfer Rs 87,416 crore surplus to govt for FY23

MUMBAI: The Reserve Bank on Friday approved Rs 87,416 crore dividend payout to the central government for 2022-23, nearly triple of what it paid in the previous year.

The Times of India

Australia past 'peak tightness' in labour market, economists say

Rising unemployment and falling job vacancies may be signalling a turning point in Australia's labour market, economists say.

ABC News

Budget 2023: ECE expansion, prescription changes in 'pragmatic' plan

The Finance Minister has unveiled a measured Budget as New Zealand is forecast to avoid recession - but low growth and peak unemployment expected to hang around.

Newsroom.co.nz

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The Guardian - AU

Wages are growing (good news!) but they’re still playing catch-up with inflation

Australian wages are rising by closer to 4% than 3%. That’s how fast they should grow when inflation is less than 3%, not 7%

ABC News

RBA research finds Australia has up to an 80 per cent recession risk to get inflation under control

Previously unpublished internal research from the Reserve Bank estimates that Australia's risk of recession over this year and next could be as high as 80 per cent.

The Guardian - AU

Jim Chalmers accuses Coalition of ‘downward envy’ as Dutton refuses to commit to jobseeker increase in budget

Angus Taylor repeats claims budget may have increased chances Reserve Bank will further increase interest rates

ABC News

Federal budget 2023: Does a budget focused on the cost of living mean inflation and interest rates could get worse?

Treasurer Jim Chalmers is adamant that his budget will not make inflation worse and force the Reserve Bank's hand on interest rates — but economists are divided, with some saying it paves the way for a rate hike in the coming months.

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Newsroom.co.nz

Cyclone response shows cash is king

An industry forum headed by the Reserve Bank is looking to learn from cash shortages during Gabrielle.

The Guardian - AU

Inflation rate to halve, bringing wage growth by 2024, federal budget predicts – with hope of mortgage relief

Australia’s economy remains resilient as global growth slows to its worst performance in more than two decades

The Guardian - AU

Inflation will decline faster than previously forecast as Australian economy slows, RBA says

The Reserve Bank’s quarterly statement on monetary policy predicts that the underlying inflation rate will end the year at 4%

ABC News

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy

Pointing to big changes that have greatly affected Australia's capacity to deliver rising standards of living, top economist Ross Garnaut calls for a major policy overhaul.

ABC News

New Zealand interest rates are still rising — now mortgage stress data reveals how households are coping

New data reveals how New Zealand households that have been under interest rate pressure for more than 18 months are managing to make ends meet.

ABC News

The cost of living has reached a record high, businesses are struggling, and interest rates are rising. Is a recession coming?

A day after the Reserve Bank controversially raised interest rates, new data shows living costs are at an all-time high and businesses are contracting, prompting concerns a recession may be on the horizon.

The New Daily

‘Smashing families’: Premiers take aim at RBA rate rises

Three premiers have taken aim at the RBA over rapidly rising interest rates, following Tuesday's decision to impose another hike.

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